I use the highlight blinkies to alert me of blown highlights in harsh, reflected light, tombstones, white birds, etc. I tend to forget that I changed the exposure compensation, so it is the first thing I look at when things go wonky. That and if I accidentally bumped the lock switch on the back of the camera. "Why can't I move my focus point?" (bumped the switch again)
Something to watch out for is if your camera is on Aperture priority, and manual ISO, if you change the exposure compensation, the camera will adjust the shutter speed, so you could get a shutter speed that is too low for hand-held. On Shutter priority, it changes the aperture. If you are in M, A, S or P with 'auto iso' engaged, it will change the ISO setting. If on P with manual ISO, it could change both aperture and shutter settings. At least that is how my D500 acts.
Good luck, have fun.